We’re seeing more “sell the fact” action on the Trump trade and hearing a lot of talk about month-end dollar outflows.
This seems to be factoring into price action today, with the dollar down across the board.
Dollar weakness has been especially prominent against the yen, where speculation of a December BOJ rate hike is ramping up. The euro has also gained relative strength, supported by more hawkish comments from ECB’s Schnabel.
Earlier today, the RBNZ announced its well-telegraphed 50 basis point rate cut.
Looking ahead, a lot of U.S. economic data is set to be released today, as it will all be packed in before U.S. market participants leave their desks for the Thanksgiving holiday break.
Key standouts include initial jobless claims, durable goods, GDP, personal income and spending, core PCE, Chicago PMI, and pending home sales.
For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.
